Handelsbanken UK profits leap

Tim Wallace
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SWEDISH group Handelsbanken recorded solid growth in 2012 with international expansion driving profits, the institution’s annual results showed yesterday.

Post-tax profits jumped 18 per cent to SEK14.5bn (£1.46bn) with a 10 per cent rise in interest income providing much of the boost.

Expenses increased five per cent with staff costs up eight per cent.

UK profit rose 56 per cent to SEK1.02bn, headcount increased 25 per cent to 133 and branch numbers rose 28 per cent to 133.